Brazil inflation nears target band, supporting more monetary easing
SAO PAULO, July 28 (Reuters) - Brazil’s 12-month inflation rate undershot forecasts and moved closer to the central bank’s target range in its mid-July reading, official data showed on Tuesday, paving the way for a fourth consecutive interest rate cut next week. Annual inflation in Latin America’s largest economy slowed to 4.52%, statistics agency IBGE said, from 4.80% a month earlier, coming in below all estimates in a Reuters poll of economists, whose median forecast was 4.67%.
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SAO PAULO, July 28 (Reuters) - Brazil’s 12-month inflation rate undershot forecasts and moved closer to the central bank’s target range in its mid-July reading, official data showed on Tuesday, paving the way for a fourth consecutive interest rate cut next week. Annual inflation in Latin America’s largest economy slowed to 4.52%, statistics agency IBGE said, from 4.80% a month earlier, coming in below all estimates in a Reuters poll of economists, whose median forecast was 4.67%. Brazil’s central bank targets inflation at 3%, plus or minus 1.5 percentage points. Its interest rate-setting committee, known as Copom, will meet again on August 4-5.
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- SAO PAULO, July 28 (Reuters) - Brazil’s 12-month inflation rate undershot forecasts and moved closer to the central bank’s target range in its mid-July reading, official data showed on Tuesday, paving the way for a fourth consecutive interest rate cut next week. Annual inflation in Latin America’s largest economy slowed to 4.52%, statistics agency IBGE said, from 4.80% a month earlier, coming in below all estimates in a Reuters poll of economists, whose median forecast was 4.67%.
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Brazil inflation nears target band, supporting more monetary easing
Sources1TypeCoverageInvesting.com · Economy